Infratil Ltd, the bidder for Royal Dutch Shell Plc, hopes healthy performance by the refining and fuel retailing unit of Shell in the coming quarters.

Infratil Chief Executive Officer Marko Bogoievski said, “(It) is an opportunity to put business improvement through that organization and also to optimize really an integrated downstream New Zealand business.”

Infratil, the biggest oil company in Europe, added that it has sufficient funds for purchasing downstream assets in New Zealand. The company will especially focus on exploration and production activities for strengthening its position across the segment.

Mr. Bogoievski said that the firm keeps many expectations by making further improvements in the retail arm of the unit. However, he declined to divulge the financial details of the transaction adding that it is more than capable to fund the transaction.

Meanwhile, stocks of Wellington-based Infratil, having airports, bus companies and power companies in Australia, New Zealand and Europe, declined 1 per cent to NZ$1.53 backed by firm’s announcement to cut its profit projections for the full year on accounts of reduced gas prices in the Australian region.